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Read more: HMBS November 2019 Part II: HMBS Float in Equilibrium at $54 BillionOutstanding HMBS fell by $33 million in November, as lower payoffs were balanced by a strong issuance month. Payoffs totaled just under $928 million, the lowest amount in 9 months. Total outstanding HMBS fell to about $53.9 billion, a three-year low, but scarcely different from last month’s total. This is only the second month HMBS…
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Read more: November 2019: Issuers Give Thanks for Abundant HMBS HarvestHMBS issuance totaled $732 million in November 2019, as lower rates continued to strengthen new production. 89 pools were issued in November, including about $506 million of new unseasoned HECM first participation pools, easily the highest monthly total for new production this year, and the fourth straight monthly increase. For comparison, HMBS issuers sold 84…
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Read more: HECM Endorsement Analytics – October 2019HUD’s October 2019 HECM Endorsement Summary Report shows a total of 3,296 endorsements; it is a 36% increase from September’s 2,420 endorsements. Our summary can be found here: NV Endorsement 2019_10. Other than in February 2019, when the market recovered from the year-end slowdown and reached over 4,000 endorsements, October’s endorsement count is the strongest since…
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Read more: HMBS October 2019 Part II: HMBS Float Drops Below $54 BillionOutstanding HMBS fell by $180 million in October, as continued strong payoffs outweighed a solid issuance month. Payoffs once again totaled just under $1 billion. Total outstanding HMBS fell to $53.9 billion, a three-year low. This is the first month HMBS float has been less than $54 billion since May 2016. Total HMBS float will…
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Read more: Mr. October Comes Through for Team HMBSHMBS issuance totaled $642 million in October 2019, as lower rates continued to strengthen new production. 82 pools were issued in October, including about $426 million of new unseasoned HECM first participation pools, the highest monthly total for new production this year, and the fourth straight monthly increase. Reverse mortgage lenders face a new era…
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Read more: HECM Endorsement Analytics – September 2019HUD’s September 2019 HECM Endorsement Summary Report released this week shows a total of 2,420 endorsements, 3.4% higher than August’s 2,341 units, our writeup of which can be found here: NV Endorsement 2019_09. There was no change in the endorsement count ranking of the top 15 originators from August. Live Well Financial will fall off the…
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Read more: HMBS September 2019 Part II: HMBS Float Falls AgainOutstanding HMBS fell by $182 million in September, as strong payoffs outweighed a decent issuance month. Payoffs once again totaled just under $1 billion. Total outstanding HMBS fell to just over $54.1 billion. Total HMBS float will likely fall further given current trends. HMBS issuance in the first half of 2019 was the lowest half…
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Read more: 2019Q3 HMBS Issuer League Tables – Two Can Play That GameAAG remains the frontrunner HMBS issuer for the third quarter of 2019, with $1.38 billion of issuance and 23% market share. Note AAG’s totals are all new originations, with no highly seasoned pools issued. Longbridge took sole possession of second place with $1.29 billion of issuance and a 21.5% share. Longbridge’s rise in the rankings…
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Read more: HMBS September 2019: Back to School SpecialHMBS issuance totaled nearly $610 million in September, as lower rates continued to strengthen new production. 83 pools were issued in September, including about $393 million of new unseasoned HECM first participation pools, the highest monthly total for new production this year. For comparison, HMBS issuers sold 104 pools totaling $588 million in September 2018.…
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Read more: HECM Endorsement Analytics – August 2019HUD’s August 2019 HECM Endorsement Summary Report shows a total of 2,341 endorsements, 15% lower than July’s 2,754 units, a summary of which can be found here: NV Endorsement 2019_08. Monthly endorsement volume has been fluctuating around 2,500 units since March of 2019. If the industry maintains this pace next month, we’ll tally only about…